4 Tax Planning Tips for High-Net-Worth Families 

January 17th, 2024 by Legacy Wealth Planning

Tax planning might be complex, but it’s also essential—especially for high-net-worth families, where missing tax breaks or failing to optimize income could cost significant dollars, maybe millions, over a lifetime.

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How to Estimate Your Quarterly Taxes as a Small Business Owner 

January 10th, 2024 by Legacy Wealth Planning

For profitable small businesses, paying quarterly estimated taxes is part of the tax process to potentially avoid penalties at the end of your fiscal year.

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Important Lessons from 2023

January 4th, 2024 by Legacy Wealth Planning

Stocks defied the skeptics in a very unpredictable 2023. The Dow Jones finished at an all-time record high on December 28, and the S&P 500 came within a whisker of a fresh all-time high after the index rallied more than 20% for the year. It wasn’t only stock investors who had plenty to cheer about. […]

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Protect Yourself From Tax Identity Theft as You Approach Retirement

January 3rd, 2024 by Legacy Wealth Planning

Tax identity theft is a serious type of fraud that affects individuals of all ages and stages of life.

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Year-End Investment Decisions

December 20th, 2023 by Legacy Wealth Planning

What are year-end investment decisions? Year-end investment decisions may sometimes result in substantial tax savings. Tax planning may allow you to control the timing and method by which you report your income and claim your deductions and credits. The basic strategy for year-end planning is both to time your income so that it will be […]

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Charitable Giving: How Small Business Owners Can Make a Big Impact 

December 13th, 2023 by Legacy Wealth Planning

Charitable giving is an excellent way for businesses to help others while taking advantage of additional tax breaks. Billions of dollars are given each year in the U.S. to a wide range of charities providing valuable community services. While large corporations may be responsible for a large portion of the donated funds, small businesses also […]

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A November to Remember

December 8th, 2023 by Legacy Wealth Planning

Solid gains for both stocks and bonds gave investors a November to remember. As financial markets continue to defy skeptics, I’m reminded of a quote from Warren Buffett’s long-time partner and one of the greatest investors of our time, Charlie Munger, who passed away last week. “The world is full of foolish gamblers, and they […]

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What is family wealth, and how do you preserve it? You have worked hard for years and accumulated wealth. You earned this money through your job, investing, and saving, and you want to preserve it for yourself and to take care of the family you love. With the projected modification of the current legislation, 2023 […]

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Talking To Your Children About Inheritance – Checklist

November 30th, 2023 by Legacy Wealth Planning

Generational wealth involves proactive financial planning, especially when parents or grandparents pass on their wealth to loved ones after they die. Entrusting family members with receiving an inheritance is more than just getting a hold of assets or a check in the mail. It is about understanding how to steward the hard-earned wealth that you […]

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Are you a spender, a saver, or somewhere in between? Do you view your money with an “easy come, easy go” attitude or focus on saving all you can, “making hay while the sun shines”? Your overall financial philosophy doesn’t just affect your day-to-day spending decisions. It may also impact your long-term financial trajectory. Below, […]

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